These are some frequently asked questions about fiscal sponsorship with the Arts & Business Council that have come up over time. These are general answers and your project’s fiscal sponsorship agreement may contain specific provisions that are a little different. In all cases, the signed Fiscal Sponsorship Agreement is the binding document. Please do not hesitate to get in touch with us at firstname.lastname@example.org if you have any questions about how fiscal sponsorship works.
What is fiscal sponsorship?
What type of fiscal sponsorship does the Arts & Business Council provide?
What does a fiscal sponsor do? Why is fiscal sponsorship valuable?
Does this make my project or organization a nonprofit?
Does this make my project a part of the Arts & Business Council?
Who owns the result of the project?
How do I explain this relationship to funders or others?
Who is eligible for the Arts & Business Council’s Fiscal Sponsorship program?
What are my responsibilities as a fiscally sponsored project?
Why do I need to send information about my project's activities to the Arts & Business Council?
Eventually I want to get my own nonprofit status but I’m not sure what I need to do. Can the Arts & Business Council help?
I only have a few projects and I’m not interested in forming a separate nonprofit. Can I still be sponsored by the Arts & Business Council?
I’m a member of an artistic partnership, trio, or collaborative, and we would all like to share the administrative burden equally. Is that possible?
What are my tax responsibilities under fiscal sponsorship with the Arts & Business Council?
Is there a cost for my project to participate in the Fiscal Sponsorship program?
What do I get for my fees?
How does my project or organization apply for fiscal sponsorship?
Is there a deadline to apply for fiscal sponsorship? How long does the review/approval process take?
My application for the Arts & Business Council's Fiscal Sponsorship program was approved! Now what?
How long does sponsorship last?
We have donors, grants, or an organization ready to give a contribution. How do we get the money?
Do people donating to my project get a tax deduction?
Can my friends and family donate money to my project online?
The project is done but I have another idea! Do I need to reapply for the Arts & Business Council to sponsor the next project?
My application to the Arts & Business Council's Fiscal Sponsorship program was approved but I didn’t get the grant I applied for. What happens now?
As a sponsored project, how can I make this fiscal sponsorship run smoothly?
Quick check: Is your project eligible?
- The project must be located in Tennessee, and have its main activities happening in the state, though additional programming can occur elsewhere.
- The project’s activities must be for 501(c)3 charitable purposes.
- The project’s mission and purposes must be aligned with the Arts & Business Council’s mission and purposes.
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